Following last year’s announcement by China’s Ministry of Ecology & Environment to impose a ban on imports of 32 types of solid waste (which includes any foreign flag tonnage for scrap) from the end of 2018, it is no longer possible for Panel lists to assess prices in China. Therefore in line with clause 13.6 of the Guide to Market Benchmarks, the Baltic Index Council has approved an emergency change to suspend all the China demolition prices for both the Tankers and Bulker in the Baltic Demolition Assessment with immediate effect. 

We will continue to monitor the situation with a view to permanently cease China assessments on 30 June 2019, if there is no scrapping of non-Chinese flagged vessels in this period.  

In the meantime any feedback from members is extremely welcome – please send this to balticbroker@balticexchange.com